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i will put forward a very specific proposal based on the recommendations that joe biden's task force is putting together as we speak. and so this is not something that i will be putting off. >> the nra says it's just not going to work. it didn't work before. it's not going to work now. >> you know, my response is, something has to work. you know, it is not enough for us to say, this is too hard, so we're not going to try. so what i intend to do is i will call all the stakeholders together. i will meet with the republicans. i will meet with democrats. i will talk to anybody. i think there are a vast majority of responsible gun owners out there who recognize that we can't have a situation in which somebody with severe psychological problems is able to get the kind of high-capacity weapons that this individual in newtown obtained. and gunned down our kids. and yes, it's going to be hard. >> should we have an armed guard at every school in the country? that's what the nra believes, they told me last week, that could work. >> i'm not going to prejudge the recommendations that are given to
i will put forward a very specific proposal based on the recommendations that joe biden's task force is putting together as we speak. and so this is not something that i will be putting off. >> the nra says it's just not going to work. it didn't work before. it's not going to work now. >> you know, my response is, something has to work. you know, it is not enough for us to say, this is too hard, so we're not going to try. so what i intend to do is i will call all the stakeholders...
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Dec 30, 2012
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i will put forward a very specific proposal based on the recommendations that joe biden's task force is putting together as we speak. and so this is not something that i will be putting off. but -- >> the a says it's just not going to work. it didn't work before, it's not going to work now. >> my response is something has to work. it is not enough for us to say this is too hard so we're not going to try. so what i intend to do is i will call all the stakeholders together. i will meet with the republicans. i will meet with the democrats. i will talk to anybody. i think there are a vast majority of responsible gun owners out there who recognize that we can't have a situation in which somebody with, you know, severe psychological problems is able to get the kind of high capacity weapons that this individual in newtown obtained and gun down our kids. and, yes, it's going to be hard. >> should we have an armed guard at every school in the country? that's what the nra believes. they told me last week that could work. >> you know, i'm not going to prejudge the recommendations that are given
i will put forward a very specific proposal based on the recommendations that joe biden's task force is putting together as we speak. and so this is not something that i will be putting off. but -- >> the a says it's just not going to work. it didn't work before, it's not going to work now. >> my response is something has to work. it is not enough for us to say this is too hard so we're not going to try. so what i intend to do is i will call all the stakeholders together. i will...
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in attendance will be vice president joe biden. is it going to be difficult to sell your party on this deal? >> well, i think that we're going to come together in about an hour as a democratic caucus and hear the vice president out. there are a lot of good things in this bill that make sense and that i think it will ultimately earn the overwhelming majority of house democratic votes. we made sure that as we committed throughout this last campaign that we would not allow taxes to increase on 98% of americans that's in this deal. we made sure that we pushed off a really significant slashing of defense spending as well as domestic spending and we'll make sure going forward that whatever deal we do reach on those spending cuts is balanced when it comes to both revenue and spending cuts. and that's the overall -- overriding commitment here is we have a balanced plan in front of us and we'll need to -- any further deals made in the future continue to have a balanced plan. >> there are some in your party who don't like this plan. senator
in attendance will be vice president joe biden. is it going to be difficult to sell your party on this deal? >> well, i think that we're going to come together in about an hour as a democratic caucus and hear the vice president out. there are a lot of good things in this bill that make sense and that i think it will ultimately earn the overwhelming majority of house democratic votes. we made sure that as we committed throughout this last campaign that we would not allow taxes to increase...
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>> well, joe biden and mitch mcconnell are older school politicians. they remember a time when compromise was how you close deals like this. and there are a lot of, i guess, mostly younger members up there who don't remember that time. they view their job is to go to washington and create conflict and have grid lock. that doesn't mean that their caucuses will certainly be with them. that is no surprise to me that vice president joe biden is talking with them. it is not a slam dunk, i suspect it will, especially if it passes the senate with a significantly bipartisan vote. you have some real deal makers. >> what do you think that this really means in your opinion, to the average american taxpayer? whether, you know, with the threat we may go over the cliff, and now we may really not. what difference did this really, really mean and if you could put it in plain words for us who are not economists, just explain what it means for all of us? >> well, first of all it means that if you're someone who is a beneficiary of long-term unemployment benefits, you're
>> well, joe biden and mitch mcconnell are older school politicians. they remember a time when compromise was how you close deals like this. and there are a lot of, i guess, mostly younger members up there who don't remember that time. they view their job is to go to washington and create conflict and have grid lock. that doesn't mean that their caucuses will certainly be with them. that is no surprise to me that vice president joe biden is talking with them. it is not a slam dunk, i...
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mcconnell and joe biden. so there's an indication of how things are going. >> you wrote that democrats are hesitant to put a deal on the senate floor with no republican backing, because it just offers them a chance to score political points when public opinion does seem to be favoring the democrats. democrats don't have an incentive to waste a show of support for something that can't pass, right? >> that's exactly where democrats are. they feel like they want to get a deal with republican backing, if they can. but remember on friday, the president kind of put republicans in a box. he said either cut a deal in the senate and push it through, or i'm going to ask harry reid to put my scaled back plan on the senate floor. and remember that scaled back plan has tax increases for everybody who makes over $250,000, which republicans don't love at all. i'll have harry reid put that on the floor and you'll have to block it. and you will have to then take responsibility for not pushing it through. so republicans are a
mcconnell and joe biden. so there's an indication of how things are going. >> you wrote that democrats are hesitant to put a deal on the senate floor with no republican backing, because it just offers them a chance to score political points when public opinion does seem to be favoring the democrats. democrats don't have an incentive to waste a show of support for something that can't pass, right? >> that's exactly where democrats are. they feel like they want to get a deal with...
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yet you see vice president biden on the hill yesterday dealing with the fiscal cliff. if you're going to have two more months of positioning on the fiscal cliff, how deep does the president go on that or does he go on immigration or gun control or energy which he said yesterday is another priority in his state of the union speech and really push? because the white house has to prioritize and right now the economy continues to be the number one priority for the foreseeable future. >> jill, if this fiscal cliff bill does get done is the new congress going to be more or less likely to work with the president on his second term agenda? >> well, the president is going to have more senators to work with, 55 as opposed to 53. that doesn't mean he'll have an easy time of it because republicans can block anything they want in the senate. it depends on what lessons if any republicans took from the election. i do think that the principle gap is very deep and so i'm not sure that we're going to see a kumbaya situation. but as i say, there are some advantages for republicans in mak
yet you see vice president biden on the hill yesterday dealing with the fiscal cliff. if you're going to have two more months of positioning on the fiscal cliff, how deep does the president go on that or does he go on immigration or gun control or energy which he said yesterday is another priority in his state of the union speech and really push? because the white house has to prioritize and right now the economy continues to be the number one priority for the foreseeable future. >> jill,...
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so, again, vice president biden heading to the hill. just three hours until we head over the fiscal cliff. the large concern here is the impact that going over the cliff would have on the economy. now economists say look, it's not going to be a windfall on wednesday. it's not going to be a complete disaster all at once. but what could happen is that the markets could begin to respond on wednesday. they're closed of course tomorrow for the holiday. and then over time, the average american could wind up paying about $2,000 more in their taxes. and if we went over the cliff and stayed over the cliff for a significant amount of time, the economy could eventually begin to dip back into recession. and that is really the big concern here. you've heard president obama talk about those concerns when he has held some of these public campaign events. he held one today to pressure congress to act. he has talked about the fact that this is a really about americans and the economy and preventing the economic recovery from being harmed. milissa? >> kr
so, again, vice president biden heading to the hill. just three hours until we head over the fiscal cliff. the large concern here is the impact that going over the cliff would have on the economy. now economists say look, it's not going to be a windfall on wednesday. it's not going to be a complete disaster all at once. but what could happen is that the markets could begin to respond on wednesday. they're closed of course tomorrow for the holiday. and then over time, the average american could...
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for biden is coming. so, we're following every minute. the light is still on in congress and we're still here at "special report." the panel is coming up. ♪ i wish my patients could see what i see. ♪ that over time, having high cholesterol and any of these risk factors can put them at increased risk for plaque buildup inheir arteries. so it's even more important to lower their cholesterol, and that's why, when diet and exercise alonaren't enough, i prescribe crestor. in a clinical trial versus lipitor, crestor got more high-risk patients' bad cholesterol to a goal of under 100. [ female announcer ] crestor is not right for everyone. like people with liver disease or women who are nursing, pregnant or may become pregnant. tell your doctor about other medicines yore taking. ll your doctoright away if you have muscle pain or weakness, feel unusually tired, have loss of appetite, upper belly pain, dark urine or yellowing of skin or eyes. these could be signs of rare but serious side effects. ♪ is your cholesterol at goal? talk to youdoc
for biden is coming. so, we're following every minute. the light is still on in congress and we're still here at "special report." the panel is coming up. ♪ i wish my patients could see what i see. ♪ that over time, having high cholesterol and any of these risk factors can put them at increased risk for plaque buildup inheir arteries. so it's even more important to lower their cholesterol, and that's why, when diet and exercise alonaren't enough, i prescribe crestor. in a clinical...
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vice president biden is in charge of that task force. they've been given a deadline of january to present ideas to the president. the president gives his state of the union address in early february. and then it's off to the races and trying to get something done. so the idea that the president isn't going to push hard on doing something about gun safety, gun control, however you want to talk about it i think is a little bit ludicrous. julian and james, thanks very much. >> thank you. >> happy new year. >> stay with us. much more ahead. >> many new year. >> happy new year. in this country we say happy new year. >> ha, ha, ha, ha! safety, gun control, however you in this country we say happy new safety, gun control, however you in this country we say happy new >>> stay with us. the day's "top lines" are coming up. ♪ i heard somebody say ♪ burn, baby burn ♪ disco inferno ♪ burn, baby burn >>> fireworks and old friends, champagne toasts and resolutions. oh, and that dreaded fiscal cliff. here are today's "top lines." countdown to sk
vice president biden is in charge of that task force. they've been given a deadline of january to present ideas to the president. the president gives his state of the union address in early february. and then it's off to the races and trying to get something done. so the idea that the president isn't going to push hard on doing something about gun safety, gun control, however you want to talk about it i think is a little bit ludicrous. julian and james, thanks very much. >> thank you....
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certainly joe biden comes out 06 this looking great. he came in sort of his superman of the underdog flying in at the last minute to save the day. the president, a mixed bag although he really played his hand to the maximum. a lot of people looked at this and thought he learned his lessons from previous perusing budget battles, health care battles, stimulus battles and republicans in congress and really had them in a corner, had them boxed in really well. however, some of his supporters, you already hear them expressing a great deal of dismay.
certainly joe biden comes out 06 this looking great. he came in sort of his superman of the underdog flying in at the last minute to save the day. the president, a mixed bag although he really played his hand to the maximum. a lot of people looked at this and thought he learned his lessons from previous perusing budget battles, health care battles, stimulus battles and republicans in congress and really had them in a corner, had them boxed in really well. however, some of his supporters, you...
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that's why biden is here on capitol hill. so with that mindset, they're moving forward in these talks and they're more than happy to have more fights over the debt limit, more fights over government funding which they think can elicit more of what they want from the president. now, democrats say, okay, we're getting a big concession with the $400,000, but president obama is smart in this case. he's going to get the tax threshold that he wants from republicans, and instead of giving them the cuts he had already promised boehner in the talks before, upwards of $1 trillion in social security and medicare, he can come back around and do that during the debt limit negotiations so he's essentially going to win out. remains to be seen whether or not that holds true and whether or not we get to your broader point, the country wants to go through another one of these in just a few months. >> luke russert, thank you. mike viqueira, kristin welker. help new year. >> happy new year. >>> when we come back, the latest on secretary of state
that's why biden is here on capitol hill. so with that mindset, they're moving forward in these talks and they're more than happy to have more fights over the debt limit, more fights over government funding which they think can elicit more of what they want from the president. now, democrats say, okay, we're getting a big concession with the $400,000, but president obama is smart in this case. he's going to get the tax threshold that he wants from republicans, and instead of giving them the...
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last word we got came from vice president joe biden. just minutes ago. here is the vice president. >> i feel very good about how is vote is going to go. having been in the senate, there are two things you shouldn't do. you shouldn't predict how the senate is going vote before they vote. you won't make a lot of money. two, you shouldn't predict how the house is going to vote. >> house will not vote on this fiscal cliff bill until tomorrow. we've heard from the house leadership that this bill will not be voted on there until voted n in the senate. not until house leadership has had time to review the bill. tax on high income earners, it will produce $620 billion in revenue. unemployment eninsurance, $30 billion from one year, not going to be paid for with other costs. there are no spending cuts in this bill that. is going to happen -- have to be taken up at a later date. so big question mark whether or not the house, republican led house is going to go for that. back to you. >> a vote at 3:00 or 4:00 in the morning >> correct. in the morning. >> yes. >> i'
last word we got came from vice president joe biden. just minutes ago. here is the vice president. >> i feel very good about how is vote is going to go. having been in the senate, there are two things you shouldn't do. you shouldn't predict how the senate is going vote before they vote. you won't make a lot of money. two, you shouldn't predict how the house is going to vote. >> house will not vote on this fiscal cliff bill until tomorrow. we've heard from the house leadership that...
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the president has a committee looking at it led by joe biden. >> laura: another biden committee. isn't he still tracking the stimulus? that is the last thing he was in charge of tracking was the stimulus bill. the summer of recovery. >> on this and many other issues a question of how does the republican house react? >> laura: he will take it to the people and do the perpetual campaign on that. >> plenty more ahead as "the factor" moves along. >>> a newspaper facing intense criticism as one blogger tries to get even with the paper. >>> supreme court justice sonia sotomayor hands another setback sotomayor hands another setback to the contraception [ laughter ] smoke? nah, i'm good. ♪ [ male announcer ] every time you say no to a cigarette, you celebrate a little win. nicoderm cq, the patch with time release smart control technology that acts fast and helps control cravings all day long. ♪ quit one day at a time with nicoderm cq. if we took the already great sentra apart and completely reimagined it with best-in-class combined mpg, and more interior room than corolla and civic?
the president has a committee looking at it led by joe biden. >> laura: another biden committee. isn't he still tracking the stimulus? that is the last thing he was in charge of tracking was the stimulus bill. the summer of recovery. >> on this and many other issues a question of how does the republican house react? >> laura: he will take it to the people and do the perpetual campaign on that. >> plenty more ahead as "the factor" moves along. >>> a...
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senate republican leader mitch mcconnell said his round-the-clock negotiations with vice president biden had paid off. >> i can report that we've reached an agreement on all of the tax -- the tax -- issues. >> reporter: first and foremost, the bush era tax cuts. the two sides agreed to extend them permanently for all household income under $400,000 a year for individuals, $450,000 a year for families. negotiators also agreed to prevent the al tesh tiff minimum tax on the wealthy from hitting millions of middle class families every year by permanently adjusting it to inflation. and they agreed to hike the estate tax rate from 35% to 40%, but the first $5 million worth of inheritance would be exempt from taxation permanently. the breakthugh prompted relief for many, including connecticut senator joe lieber man. >> i hope the negotiations going on now end with an agreement and i hope that we will pass it with bipartisan majority in theong senate and the house. >> reporter: but others, chiefly republicans, were angry that the deal did not include a serious package of spending cuts and might
senate republican leader mitch mcconnell said his round-the-clock negotiations with vice president biden had paid off. >> i can report that we've reached an agreement on all of the tax -- the tax -- issues. >> reporter: first and foremost, the bush era tax cuts. the two sides agreed to extend them permanently for all household income under $400,000 a year for individuals, $450,000 a year for families. negotiators also agreed to prevent the al tesh tiff minimum tax on the wealthy...
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bernstein, msnbc contributor and former chief economist and economic policy adviser to vice president joe biden. that's just some of the details as you so well know here but let's remind ourselves, though, of this word that we have been using. that was termed by mr. bernanke. he called it a cliff. but really -- >> right. >> it is like falling down stairs, isn't it? >> right. more so a staircase or a slope in the sense that some of the damage you just described actually takes a while to arrive and if congress is able to quickly reverse the cliff dive, it could be more and i have heard folks use this, more of a bungee yump to get back up to the cliff. >> at the end of the day, right. >> the tax increases you noticed, these are tax increase that is are fazed in over the course of 2013. so it's not until april 2014 when you're filling out the tax bill for the prior year that you would be looking at some of the increases you just described. now, a couple of nuances, though. the payroll tax cut that's been in effect, the 2% on your paycheck of a payroll tax break, that does go away right away. and pe
bernstein, msnbc contributor and former chief economist and economic policy adviser to vice president joe biden. that's just some of the details as you so well know here but let's remind ourselves, though, of this word that we have been using. that was termed by mr. bernanke. he called it a cliff. but really -- >> right. >> it is like falling down stairs, isn't it? >> right. more so a staircase or a slope in the sense that some of the damage you just described actually takes a...
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. >> bill: we begin with a very strange picture vice president biden getting up close and personal with a biker chic in ohio. that happened sunday and nobody can quite explain it. i thought at first gutfeld it was a promo for the tv show anarchy. is that what it is? >> sons of anarchy? i thought he was preparing for the white house christmas party. is he going to be santa. [ laughter ] i love the look on the faces of the biker. that is america looking down at him. i love bikers they are either taking teddy bears it hospitals or getting meth to my uncle. >> bill: one or the two. you believe it's a santa claus play. put that picture back up. this is an interesting point about the looks, mcguirk. it looks like they are red are to stab the vice president. >> if he didn't have secret service protection they would have had to scrape him off the floor. >> bill: we don't know why the vice president got up close and purge with the woman. with all due respect to her she is not exactly gisele biewn den. >> i would like to see him where the bandanna. >> see artists like bob dylan raise again the ma
. >> bill: we begin with a very strange picture vice president biden getting up close and personal with a biker chic in ohio. that happened sunday and nobody can quite explain it. i thought at first gutfeld it was a promo for the tv show anarchy. is that what it is? >> sons of anarchy? i thought he was preparing for the white house christmas party. is he going to be santa. [ laughter ] i love the look on the faces of the biker. that is america looking down at him. i love bikers they...
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should he be on the panel that vice president biden will be leading? >> he's a former member of congress, he has sway with people on capitol hill, he's large live seen as somebody who is going to run for governor in his home state of arkansas going forward, he's still an active political figure, former members of congress tend to get more things done here in washington than some other folks but we'll see. >> they don't have to be re-elected. >> that's right. they're going to need a lot of power going forward to get lngs through. >> we heard this on friday, we heard it on sunday from lapierre. he was using the terms "good guys" fairly frequently. does that positive association he's making with police officers, of those who are trained using gun, using the terms "good guys" is that what we expect to hear for all those who are opponents of gun legislation going forward? >> i think so. i think that will be part of the conversation. but, you know, this will be a really difficult battle on capitol hill, especially in the house but also in the senate. we see
should he be on the panel that vice president biden will be leading? >> he's a former member of congress, he has sway with people on capitol hill, he's large live seen as somebody who is going to run for governor in his home state of arkansas going forward, he's still an active political figure, former members of congress tend to get more things done here in washington than some other folks but we'll see. >> they don't have to be re-elected. >> that's right. they're going to...
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what is your expectations or thoughts about hear that the president and vice president joe biden are calling the four congressional leaders behind closed closed doors today. >> i am hopeful. i wouldn't say i'm optimistic, but i think confidence has gone down. i think the key is whether the speaker will be the speaker of the entire house and let the matters come before us where there could be a majority of democrats and perhaps a majority of republicans, but let es speak our will and act on our will. that's really one of the keys. i think if the senate bill or what was in it were brought before the house, keeping the middle-class tax cuts, but not those for the upper income, and making sure the alternative minimum tax did not go into effect -- i think it would pass with a coalition. and i think the same could be true of unemployment insurance. 2 million people will lose their federal benefits tomorrow, if we don't have. 2 million people. >> when we snowe the fiscal cliff was imposed as a stopgap on you and all of your colleagues on the hill, are you disappointed that you've had to see
what is your expectations or thoughts about hear that the president and vice president joe biden are calling the four congressional leaders behind closed closed doors today. >> i am hopeful. i wouldn't say i'm optimistic, but i think confidence has gone down. i think the key is whether the speaker will be the speaker of the entire house and let the matters come before us where there could be a majority of democrats and perhaps a majority of republicans, but let es speak our will and act...
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struggling and suffering and generational theft is going on what did we see obama is ordering pay raises for biden and members of congress and federal workers and nobody is talking about our healthcare taxes going up, billy cunningham. how in good conscience do they do this at this time? >> sean hannity, the people are taking this in the shorts now are going to be the butchers, the bakers, the candlestickmakers and carpenters and elec electricia. we haven't talked about the huge tax increases on average americans. take billions and ship it off to a black hole in washington and call it a victory. boehner will be elected speaker. the republicans won't be primary #-d. the media will declare obama the winner and the only person getting hurt is the middle class that allegedly obama supports which is a bunch of baloney. that s go is going to happen. >> i will throw this to joe trippi. the people that will really be hurt are the children and grand children that we are stealing from. we are robbing these kids blind. we are taking their inheritance away. and i have a question for you, for joe trippi. why i
struggling and suffering and generational theft is going on what did we see obama is ordering pay raises for biden and members of congress and federal workers and nobody is talking about our healthcare taxes going up, billy cunningham. how in good conscience do they do this at this time? >> sean hannity, the people are taking this in the shorts now are going to be the butchers, the bakers, the candlestickmakers and carpenters and elec electricia. we haven't talked about the huge tax...
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and biden will see his pay go go up to $231,900. speaker boehner will make $224,600. that's $30,000 more than the pay of senate and house majority and minority leaders. those raises maybe good news for congress. but the rest of america won't be so happy when they see their paycheck next year. it's almost certain that the government will not extend the payroll tax holiday. that means a 2% tax increase for every last one of us. joining me is gerald bernstein, a senior fellow at the center of budget and policy priorities. get the title out. let's get to business. why are we not talking about this? talking about the cliff, but everybody's taxes going up with the payroll tax holiday. >>ith a great question, t.j. an important and underappreciated part of the fiscal cliff. the answer to the why is it really doesn't have any champions. when you hear the list of things people fighting for, estate tax, you hear the unemployment extension, things like that. you don't even hear this listed anymore. i know for a fact that the white house was fighting for this. they understand how
and biden will see his pay go go up to $231,900. speaker boehner will make $224,600. that's $30,000 more than the pay of senate and house majority and minority leaders. those raises maybe good news for congress. but the rest of america won't be so happy when they see their paycheck next year. it's almost certain that the government will not extend the payroll tax holiday. that means a 2% tax increase for every last one of us. joining me is gerald bernstein, a senior fellow at the center of...
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never received a response to a republican offer last night and is reaching out to vice president joe biden to kickstart negotiations with the white house at this point. the senator saying fail to go solved the crisis is simply not an option. >> the consequences of this are too high for american people to be engaged in a political messaging campaign. there's no single issue that remains an impossible sticking point. the sticking point appears to be a willingness and interest or frankly the courage to close the deal. i want everyone to know i'm willing to get this done. but i need a dance partner. >> a dance partner. meanwhile democrats being led by senate majority leader harry reid who says he's cautiously optimistic about reaching a deal but warns there's not much more negotiating that can be done on his end. >> i don't have a counter offer to make. perhaps the day wears on, i will ble to. i will say that i think that the republican leader has shown good faith. it's just we're apart on pretty big issues. >> that was earlier. let's get the latest now because it's changing minute-by-minute.
never received a response to a republican offer last night and is reaching out to vice president joe biden to kickstart negotiations with the white house at this point. the senator saying fail to go solved the crisis is simply not an option. >> the consequences of this are too high for american people to be engaged in a political messaging campaign. there's no single issue that remains an impossible sticking point. the sticking point appears to be a willingness and interest or frankly the...
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Dec 27, 2012
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control enacted or not, but i do suspect that if there is, that will be the area that vice president biden may very well focus. by the way, let me just say that would have done nothing, as you know, to prevent the tragedy that happened recently, but still and all, i think you have a valid point. >> but some of the measures we talked about i believe would have had an impact on some of the other incidents we've seen over the last several years. it strikes me that the conversation is so distorted when people are waiting eight and nine hours to vote and yet we're saying people can't be asked to wait five days for a gun and i think a lot of people don't realize that once you have that background check, those records are destroyed after 24 hours. >> but also as we're getting further and further away from the newtown tragedy, i hope people don't lose their sense of what it means to that community and what the impact has been on that community. we're going to have these sausage making conversations about common sense gun safety versus gun control versus the nra. i hope we keep the national tragedi
control enacted or not, but i do suspect that if there is, that will be the area that vice president biden may very well focus. by the way, let me just say that would have done nothing, as you know, to prevent the tragedy that happened recently, but still and all, i think you have a valid point. >> but some of the measures we talked about i believe would have had an impact on some of the other incidents we've seen over the last several years. it strikes me that the conversation is so...
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Dec 31, 2012
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congressional leaders and vice president biden are struggling to avoid the fiscal cliff. those negotiations continue this morning. nancy cordes is on capitol hill. nancy, good morning. >> reporter: good morning to you, norah. they have appeared to move closer to one another. democrats have come way up from the president's longstanding position that the bush tax cuts should expire for all household income over $250,000 a year. republicans have come way down from speaker boehner's insistence that that limit be set at a million dollars. and so if there's a deal today, and that's a big "if," you can expect it would be set around $400,000, $500,000, $600,000 a year, so certainly 90, 95% of americans would be keeping their tax cut. one of the biggest sticking points for the republicans right now appears that this deal doesn't include significant spending cuts. in fact, it contain as lot of new spending and so that is one major issue that's going to have to be ironed out. and if they don't get an agreement today by the deadline, the big question, norah, is do the two sides conti
congressional leaders and vice president biden are struggling to avoid the fiscal cliff. those negotiations continue this morning. nancy cordes is on capitol hill. nancy, good morning. >> reporter: good morning to you, norah. they have appeared to move closer to one another. democrats have come way up from the president's longstanding position that the bush tax cuts should expire for all household income over $250,000 a year. republicans have come way down from speaker boehner's...
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jared bernstein, former chief economist to vip biden, as well as a contributor. i want to start with the new statement from senator mitch mcconnell's office coming out says last night he called other lead serious. the leader is happy to review what the president has in mind, but to day date the majority has not put forward a plan. jared, is that good they're actually speaking, however far apart as it may sound, at least they're talking? >> it's a bit good. better to be talking than north. the unfortunate thing are the words they're saying. i don't hear much compromise or kind of conciliation in the statements we've heard thus far. i do hear a lot of theatrics, you go first, no you go first. it's strange to say the democrats haven't put forth any legislation on this, because in fact they have. in fact, a democratic majority in the senate passed a bill that's pretty similar to the compromise that the president was offering before he left for hawaii. that's the tax rates are froch for 250,000 and below, they go up for the top 2%, sequester gets kicked down the road,
jared bernstein, former chief economist to vip biden, as well as a contributor. i want to start with the new statement from senator mitch mcconnell's office coming out says last night he called other lead serious. the leader is happy to review what the president has in mind, but to day date the majority has not put forward a plan. jared, is that good they're actually speaking, however far apart as it may sound, at least they're talking? >> it's a bit good. better to be talking than north....
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let's talk about some, joe biden, for example, gets a raise 225 to now $231,000. we move on to a couple of others, if we can spin through to give you an example. john boehner increase of $1,000, so they're not enormous raises, they are fairly mottdest, right, peter? >> they are fairly modest, it affects not only congress, but the supreme court justices and also includes senior executives in the executive branch. the cost of this, according to the congressional budget office, is going to be about 1 billion dollars a year with this increase for senior executives in government. so, literally, think about this. they're talking about the fiscal cliff, they're talking about raising taxes and cutting spending. the only thing that's been accomplished thus far is to raise spending by about a billion dollars a year. >> dave: i think in particular rubs americans the wrong way when they see this, members of congress average salary, 174,000. average american, $48,000. that's on top of the fact that we see all the time, they take off, these long recesses and oh, by the way not
let's talk about some, joe biden, for example, gets a raise 225 to now $231,000. we move on to a couple of others, if we can spin through to give you an example. john boehner increase of $1,000, so they're not enormous raises, they are fairly mottdest, right, peter? >> they are fairly modest, it affects not only congress, but the supreme court justices and also includes senior executives in the executive branch. the cost of this, according to the congressional budget office, is going to...
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mcconnell and biden get along much better than mcconnell does with president obama. in the last 24 hours, the administration has given ground on raising threshold for income tax rates and estate tax rates, but also demanded much more in new government spending the republicans are comfortable with. it's that division between spending and taxes that continues to divide both sides, and that is the one thing that may prevent a deal from being achieved in the final hours as we get nearer to the fiscal cliff. >> major garrett, thank you. senator is live on capitol hill. >> thanks for having me. >> if there's a deal today, why would you vote to extend tax cuts if there are no new spending cuts? >> that's the exact thing. the real problem is the spending. if you want to raise taxes -- and the president promised in the campaign he wanted to do that -- it's to pay down on the deficit. there's no evidence of any of that. that's a major sticking point. the democrats are divided on tax rates, on the death tax, on taxes on small business and the republicans are holding firm that y
mcconnell and biden get along much better than mcconnell does with president obama. in the last 24 hours, the administration has given ground on raising threshold for income tax rates and estate tax rates, but also demanded much more in new government spending the republicans are comfortable with. it's that division between spending and taxes that continues to divide both sides, and that is the one thing that may prevent a deal from being achieved in the final hours as we get nearer to the...
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i will put forward a very specific proposal, based on the recommendations that joe biden's task force is putting together, as we speak. and so this is not something that i will be putting off. but -- >> the nra says it's not going to work. it didn't work before, it's not going to work now. >> my response is something has to work. it is not enough for us to say this is too hard so we're not going to try. so what i intend to do is i will call all the stakeholders together, i will meet with the republicans, i will meet with democrats, i will talk to anybody. i think there are a vast majority of responsible gun owners out there who recognize that we can't have a situation in which somebody with, you know, severe psychological problems is able to get the kind of high capacity weapons that this individual in newtown obtained and gun down our kids. and, yes, it's going to be hard. >> should we have an armed guard at every school in the country? that's what the nra believes. they told me last week that could work. >> you know, i'm not going to prejudge the recommendations that are given to me
i will put forward a very specific proposal, based on the recommendations that joe biden's task force is putting together, as we speak. and so this is not something that i will be putting off. but -- >> the nra says it's not going to work. it didn't work before, it's not going to work now. >> my response is something has to work. it is not enough for us to say this is too hard so we're not going to try. so what i intend to do is i will call all the stakeholders together, i will meet...
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here to talk about this with us, jared bernstein who served as vice president biden's chief economist and now senior fellow the center of budget and policy orders. msnbc contributor. we thank you so much for coming on the show. mr. bernstein, i want to put up a graphic in terms of the literal impact going over the fiscal cliff. if you make $20,000 you will see tax hike of $412. if you are middle $, 40,000 to $65,000, average tax hike of fearly nearly $2,000 which is significant. is this being lost on the policymakers now? >> i think it is. i mean -- if you -- were really concerned about how middle income people are doing and howing the unemployed are doing, how the average person who depends on their pay paycheck, not their stock portfolio is doing, you quickly resolve these cliff issues so the tax rates don't revert to get you the results you just showed. very quickly extend unemployment. i mean, i thought the point that someone made earlier in the reporting was critical. there are millions, couple million, actually, of unemployed people who have been on the rolls already. we know th
here to talk about this with us, jared bernstein who served as vice president biden's chief economist and now senior fellow the center of budget and policy orders. msnbc contributor. we thank you so much for coming on the show. mr. bernstein, i want to put up a graphic in terms of the literal impact going over the fiscal cliff. if you make $20,000 you will see tax hike of $412. if you are middle $, 40,000 to $65,000, average tax hike of fearly nearly $2,000 which is significant. is this being...
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and a former economist for vice president joe biden. and of course nbc's luke russert. luke, i'm starting with you. we just got a statement from speaker boehner and the house leaders. and shock. they are putting it back on the senate. tell us about the statement and where it's going from here. >> it's a fascinating ping-pong match right now. but really with the senate, john boehner, eric cantor with mccarthy and morris are saying is there are two bills the house passed to deal with the fiscal cliff that are now over the united states senate. if the senate wants to do anything with them, amend them and send them back to the house and perhaps the house will act on it. essentially what boehner is saying is we're not making any moves until the senate amends the two bills we passed over or sends a new one. what are in those bills? well, they essentially extend the bush tax cuts permanently for all earners. and then to avert the sequester and other types of cuts, they make what a lot of liberals have called draconian cuts to meals on wheels, food stamps. it goes into discreti
and a former economist for vice president joe biden. and of course nbc's luke russert. luke, i'm starting with you. we just got a statement from speaker boehner and the house leaders. and shock. they are putting it back on the senate. tell us about the statement and where it's going from here. >> it's a fascinating ping-pong match right now. but really with the senate, john boehner, eric cantor with mccarthy and morris are saying is there are two bills the house passed to deal with the...
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and senator biden -- senator biden said -- okay, i want to finish my story. he -- i don't think he believe me, but for five months later the bill was going through the senate, he says, you know, you were true in your wanted to help was reauthorize this. because voting is the basis of our representative system of government and it ought to be reserved for all people. but nobody's vote should be diluted by people who are not eligible to vote, voting. i yield the floor. >> thank you very much, and you are a stalwart then, and one of the reasons why senator grassley and i have been such good friends all these years. i have to go to the floor to administer an appropriations bill. those on the appropriations committee. and senator durbin has agreed to take over the hearing and will have statements for the record from senator warner. and also from other organizations. they will be placed prior to the record, but senator durbin has been so stalwart on this, and i'm wondering, senator durbin, if you take my place here in the chair and senator grassley, thank you all s
and senator biden -- senator biden said -- okay, i want to finish my story. he -- i don't think he believe me, but for five months later the bill was going through the senate, he says, you know, you were true in your wanted to help was reauthorize this. because voting is the basis of our representative system of government and it ought to be reserved for all people. but nobody's vote should be diluted by people who are not eligible to vote, voting. i yield the floor. >> thank you very...